T3 ECONOMICS CH1 Tax and its Importance — Social Science STD 7 — Question
Tamilnadu BoardEnglish MediumSTD 7Social ScienceT3 ECONOMICS CH1 Tax and its Importance2 Marks
Question
Write a short note an corporation tax.
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Answer
Corporation tax is levied on profit of corporations and companies. It is charged on royalties, interest, gains from sale of capital assets located in India, fees for technical services and dividends.
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